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Archive
- 8/11/2017
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iShares MSCI Canada Index |
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| Summary:
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| | It was the second negative week after 3 consecutive positive weeks for the iShares MSCI Canada Index (EWC). During the week, the EWC dropped -0.58 points, or -2.09%, and closed at 27.19 on Friday, August 11, 2017. Weekly volume was -9% below average.
 Long-term trend: [See EWC long-term trend chart]
A long-term downtrend had started on April 6, 2011 at 34.57 and reached 18.07 on January 20, 2016. EWC lost 16.50 points, or 47.73%, in 250 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 16.09 and resistance is at 31.85. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See EWC medium-term trend chart]
A medium-term uptrend had started on May 18, 2017 at 25.58 and reached 28.15 on July 26, 2017. EWC gained -2.57 points, or -10.05%, in 9 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See EWC weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since July 7, 2017. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See EWC short-term trend chart]
A short-term downtrend had started on July 26, 2017 at 28.15 and reached 27.12 on August 11, 2017. EWC lost 1.03 points, or 3.66%, in 16 days. The price is now at the 6.80% retracement level.
 Daily Technical Indicators: [See EWC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since July 31, 2017. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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